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GLOBIX ANNOUNCES INTENTION TO COMMENCE CASH TENDER OFFER FOR OUTSTANDING 13% SENIOR NOTES DUE 2005
NEW YORK — January 28, 2000 — Globix Corporation (NASDAQ:
GBIX) today announced that it intends to commence a tender offer to purchase for cash all of its
outstanding 13% Senior Notes due 2005, $160 million in principal amount, subject to the conditions
contained in the following paragraph. The tender price will be 106.5% of the principal amount plus
accrued and unpaid interest.
In connection with the tender offer, Globix is also seeking consents to eliminate most of the
restrictive covenants contained in the indenture under which the currently outstanding 13% Senior
Notes were issued. The Company is required to commence the tender offer only if it is able to raise
gross proceeds in excess of $425.0 million from its previously announced private placement of new
Senior Notes, on terms and conditions acceptable to the Company, and it receives consents from a
majority of the holders of its currently outstanding 13% Senior Notes eliminating such covenants.
This press release does not constitute an offer to sell or the solicitation of any offer to
buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction
in which such offering would be unlawful.
The new Senior Notes to be offered have not been registered under the Securities Act of
1933, as amended, or any state securities laws, and, unless so registered, may not be
offered or sold in the United States except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the Securities Act and
applicable state securities laws.
This press release contains forward-looking statements. Actual results could differ
materially from those projected in the forward-looking statements. Additional information
concerning factors that could cause actual results to differ materially from those in the
forward-looking statements is contained under the heading of Risk Factors listed from time
to time in the Company’s filings with the Securities and Exchange Commission.
VP – Corporate Finance
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